Iowa Code 504.721 – Voting agreements
Current as of: 2024 | Check for updates
|
Other versions
1. Two or more members of a corporation may provide for the manner in which they will vote by signing an agreement for that purpose. For public benefit corporations, such agreements must have a reasonable purpose not inconsistent with the corporation‘s public or charitable purposes.
Terms Used In Iowa Code 504.721
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means a public benefit, mutual benefit, or religious corporation. See Iowa Code 504.141
- Vote: includes authorization by written ballot and written consent. See Iowa Code 504.141
2. A voting agreement created under this section is specifically enforceable.